Press release - Financial results 2025

Paris, 10 April 2026

Seyna, the most efficient insurer for brokers, surpasses €142M in gross written premiums (GWP) in 2025, representing 57% annual growth. This acceleration is accompanied by a continuous improvement in the technical profitability of its portfolios. The combination of sustained growth and the results of rigorous risk management validates the scalability of its technology-driven insurer model built for brokers.

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Growth that exceeds forecasts

In 2025, Seyna reaches a major milestone with €142 million in gross written premiums, up from €91M in 2024, representing growth of +57%. The company had set an ambitious internal target of €124M — it surpassed it by 15%. This performance is driven by the acceleration of its strategic programmes and the proven success of its clear positioning as an insurer dedicated to brokers.

This momentum is also reflected in the depth of the portfolio: Seyna now manages 97 active portfolios spread across 7 lines of business (individual health, unpaid rent, pet insurance, embedded insurance, and more).

"In 2025, we supported the launch of 30 new products, while also seeing the acceleration of production and profitability across existing portfolios. This is the most direct validation of our model: when Seyna builds the right products, invests in the right technology to monitor their performance, and provides enhanced support to broker partners, growth follows naturally. Our mission is ultimately to absorb this growing demand without ever compromising on risk management quality and performance." — Stephen Leguillon, CEO of Seyna

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Financial performance: growing whilst improving portfolio quality

Seyna operates as an insurer that delegates distribution and management to its broker partners. The success of this model therefore depends on two key ratios:

• The margin Seyna generates after paying claims and distribution and management commissions. This ratio — comparing the sum of claims and commissions to premiums — stands at 92% in 2025, down from 100% in 2024, an improvement of 8 percentage points in a single year.
• Portfolio monitoring costs, which stand at 1.33% of premiums in 2025, compared to 1.55% in 2024 — an improvement of 0.22 percentage points.

"An 8-point improvement in our margin after claims, distribution and management costs, alongside a 0.22-point reduction in monitoring expenses — all while growing volumes by 57% — is a remarkable achievement, but not a coincidence. It is the result of our sustained investment in product monitoring technology and operational automation. We manage every portfolio on a monthly basis, with a level of granularity and analytical depth that few insurers achieve at this pace." — Jean Nicolini, CFO & CRO of Seyna

Finally, the solvency ratio reaches 247% at end-2025 (vs. 205% at end-2024), reflecting the structural strength of the company and its ability to absorb sustained growth without weakening its balance sheet. This financial solidity is the result of Seyna's ongoing work with its reinsurer network, leveraging its technology to build strong relationships grounded in transparency and actuarial excellence.

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Health: the vertical that proves Seyna's promise in a challenging market

The performance of the Health vertical is the standout story of 2025. With €51M in gross written premiums and growth of +118%, it becomes Seyna's largest vertical by volume.

Beyond the volume, the quality trajectory is equally remarkable: Seyna achieves a 9% margin after claims and all distribution and management costs, just three years after launching its first health products. This illustrates Seyna's ability to iterate rapidly on its products and restore profitability in a vertical widely regarded as structurally loss-making.

"In just a few months, Seyna became a central partner in our development. Their ability to build a bespoke product and iterate quickly to improve performance is unique in the market. This co-construction with Seyna — both at launch and throughout product monitoring — allows us to continuously improve our programmes." — Marina Vivargent, Technical and Products Director, SPVIE

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Steady progress across all affinity verticals and internationally

Beyond Health, all of Seyna's verticals deliver solid results:

• Pet Insurance: €27.9M GWP (+37%)
• Unpaid Rent / Surety: €18.1M (+57%)
• Embedded Motor: €12.7M (+57%)
• Breakdown / Theft / Accidental Damage: €18.8M (+6%)
• Cancellation: €9.5M (+18%)

This performance is supported by Seyna's growing broker ecosystem (Dalma, Marsh, Garantme, Verspieren, Roole, Phenomen, Goodflair, WTW, and others).

In 2025, Seyna also expanded its model into two new countries — Belgium and the Netherlands — adding to its existing presence in France, Germany, Spain, and Poland, and confirming its ability to scale internationally.

"For several years now, Seyna has been a genuine growth partner. They understand our challenges, anticipate our needs, and enable us to industrialise our programmes — in France and internationally — without ever compromising on the quality of oversight. That level of commitment makes all the difference." — Alban de Préville, Co-founder and CEO, Dalma

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An ambitious future, powered by technology at every level

Beyond current performance, Seyna is pursuing a clear ambition: to become the most efficient insurer for brokers across Europe. This positioning rests on a strong conviction — competitive advantage is no longer determined solely by speed to market, but by the ability to manage portfolios with unprecedented speed and precision.

Seyna will continue to invest heavily in its technology platform to deliver ever greater value to brokers. The objective is straightforward: anticipate underperformance, identify growth levers, and enable brokers to make fast, informed decisions to improve both their production and profitability.

This investment is reflected in particular through the deployment of artificial intelligence at the heart of operations. At Seyna, every component — from pricing to actuarial analysis and data quality control — is being redesigned to be AI-native, enabling the company to absorb growth in the number of brokers, products, verticals, and countries without friction.

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About Seyna

Seyna is an insurer bringing unmatched efficiency to brokers. Through cutting-edge technology and a highly responsive team, Seyna supports brokers at every stage of their development: designing bespoke insurance products, providing sales and management tools, monitoring and improving product performance, and ensuring regulatory compliance.

Since its launch in 2019, when it received its insurer licence from the ACPR, Seyna has partnered with over 100 brokers, including SPVIE, Verspieren, WTW, Garantme, APRIL, Marsh, and Dalma, helping them protect nearly two million policyholders across 6 European countries. Backed by €57 million from GFC, White Star Capital, Elaia and 115K (La Banque Postale), Seyna has global ambitions to modernise insurance programme design and management.

For further information, please contact:

Charles Helliet — Marketing Lead

‍charles.helliet@seyna.eu

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